Banking and credit

FILE - In this Friday, May 5, 2017, file photo, Federal Reserve Chair Janet Yellen smiles before giving a speech during a conference at Brown University in Providence, R.I. Yellen's last day at the Fed is Friday, Feb. 2, 2018. Then she will start a new job on Monday, Feb. 5 at the Brookings Institution. (AP Photo/Michael Dwyer, File)
February 04, 2018 - 1:26 pm
WASHINGTON (AP) — Janet Yellen said she was disappointed that President Donald Trump didn't offer her a second term as Federal Reserve chair, but supports her central bank successor, Jerome Powell, who takes over on Monday. Powell, a Fed board member since 2012, is "thoughtful, balanced, dedicated...
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FILE - In this Wednesday, Dec. 19, 2012, file photo, a man walks past a Wells Fargo location in Philadelphia. The Federal Reserve is imposing more penalties on Wells Fargo, freezing the bank's growth until it can prove it has improved its internal controls. The new penalties were announced late Friday, Feb. 2, 2018, on Fed Chair Janet Yellen's last day at the central bank. (AP Photo/Matt Rourke, File)
February 02, 2018 - 8:18 pm
WASHINGTON (AP) — The Federal Reserve is imposing more penalties on Wells Fargo, freezing the bank's growth until it can prove it has improved its internal controls. In addition, bank agreed to replace four board members. It's the latest blow against the San Francisco bank that has had its...
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FILE - In this Friday, May 5, 2017, file photo, Federal Reserve Chair Janet Yellen smiles before giving a speech during a conference at Brown University in Providence, R.I. Yellen's last day at the Fed is Friday, Feb. 2, 2018. Then she will start a new job on Monday, Feb. 5 at the Brookings Institution. (AP Photo/Michael Dwyer, File)
February 02, 2018 - 8:08 pm
WASHINGTON (AP) — Federal Reserve Chair Janet Yellen, the first woman to head the nation's central bank, got a boisterous send-off from Fed staff, but she isn't taking any time off. After her last day at the Fed on Friday, she will start a new job Monday at the Brookings Institution. The Washington...
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FILE - In this Oct. 30, 2014 file picture the Deutsche Bank headquarters are photographed in Frankfurt, Germany. The bank will announce the latest figures Friday, Feb. 2, 2018. (AP Photo/Michael Probst, File)
February 02, 2018 - 6:43 am
FRANKFURT, Germany (AP) — Deutsche Bank CEO John Cryan says Germany's largest financial institution is making progress in its drawn-out effort to cut costs and restore profits — despite posting a third straight annual loss. Cryan said Friday that many important steps would take time to show up in...
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A currency trader walks by screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room in Seoul, South Korea, Thursday, Feb. 1, 2018. Asian markets were mixed on Thursday with Tokyo stocks higher as the yen weakened against the U.S. dollar. (AP Photo/Lee Jin-man)
February 01, 2018 - 8:08 am
SEOUL, South Korea (AP) — Global markets were mixed Thursday after the U.S. Federal Reserve left its benchmark interest rate unchanged and as investors monitored a raft of corporate earnings reports. KEEPING SCORE: Britain's FTSE 100 fell 0.1 percent to 7,523 while France's CAC 40 gained 0.2...
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FILE - In this Dec. 13, 2017 file photo, Federal Reserve Chair Janet Yellen speaks during a news conference following the Federal Open Market Committee meeting in Washington. When Yellen leaves the Federal Reserve this weekend after four years as chair, her legacy will include being the first woman to have led the world's most powerful central bank. She will be remembered, too, for her achievements in deftly steering the Fed’s role in the U.S. economy’s rebound from a crushing financial crisis and recession. (AP Photo/Carolyn Kaster, File)
February 01, 2018 - 3:40 am
WASHINGTON (AP) — When Janet Yellen leaves the Federal Reserve this weekend after four years as chair, her legacy will include having shattered a social barrier: She is the first woman to have led the world's most powerful central bank, a position that carries enormous sway over the global economy...
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FILE - In this Wednesday, Sept. 20, 2017, file photo, Federal Reserve Chair Janet Yellen gets up from her seat at the conclusion of a news conference following the Federal Open Market Committee meeting in Washington. Yellen, the first woman to lead the world’s most influential central bank, will step down when her term expires on Feb. 3, 2018. She will be succeeded by Fed board member Jerome Powell. (AP Photo/Pablo Martinez Monsivais, File)
January 31, 2018 - 2:38 pm
The Federal Reserve has left its benchmark interest rate unchanged but signaled that it expects to resume raising rates gradually to reflect a healthy job market and economy. At Janet Yellen's final meeting as chair Wednesday, the Fed kept its key short-term rate in a still-low range of 1.25...
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January 30, 2018 - 9:59 am
NEW YORK (AP) — In a story Jan. 29 about American Express CEO Kenneth Chenault, The Associated Press erroneously identified the Fortune 500 drug company that is led by a black CEO. Merck & Co., not Pfizer, has a black CEO. A corrected version of the story is below: Chenault dealt with crises,...
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Jacob Lerma looks at the bare studs inside his home, which was damaged by floodwaters from Hurricane Harvey, Monday, Jan. 22, 2018, in Friendswood, Texas. Five months after Hurricane Harvey damaged thousands of houses in Texas, financial difficulties many homeowners still face as they work to rebuild has created a spike in missed mortgage payments. (AP Photo/David J. Phillip)
January 27, 2018 - 10:56 am
FRIENDSWOOD, Texas (AP) — As Jacob Lerma surveyed the skeletal beams of his suburban Houston home that was flooded during Hurricane Harvey, he kept muttering three words as he wondered if his family would ever be able to move back in: "I don't know." Like many Texans whose homes were flooded during...
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Mario Draghi, President of the European Central Bank, ECB, attends a press conference in the ECB headquarter in Frankfurt, Germany, Thursday, Jan. 25, 2018. (Arne Dedert/dpa via AP)
January 25, 2018 - 11:28 am
FRANKFURT, Germany (AP) — Europe's top economic official has cautioned the U.S. and Treasury Secretary Steven Mnuchin about talking down the dollar's exchange rate, which helps U.S. exporters but could make life harder for Europe and other trade partners. European Central Bank President Mario...
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